FINANCE
Biden Takes Heat after Inflation Increases Again
(Casey Harper, The Center Square) The latest federal inflation data shows consumer prices rose again in February, sparking criticism of President Joe Biden and his spending agenda.
The U.S. Bureau of Labor Statistics released the Consumer Price Index Tuesday, which showed consumer prices rose 0.4% in February, totaling a 6% increase...
COMMENT: Why We Should Let Bad Banks Fail
(Peter Jacobsen, FEE) By now, you’ve likely heard about regulators closing down Silicon Valley Bank and now Signature Bank as well.
While I’m not going to go into all the details, the basic story is described well in this article on Seeking Alpha. Essentially, SVB received a large influx of deposits...
Failed Anti-Trump Bank Goes Viral for ‘Cringe’ Video Touting Wokeness
(Abdul--Rahman Oladimeji Bello, Headline USA) Signature Bank, the failed anti-Trump bank shut down by New York's state regulators, became a hot topic online after an ill-conceived ad from the disgraced institution went viral.
The ad, featuring a parody of Fun.'s "Some Nights," broke the internet immediately after it was...
Wasteful U.S. Gov’t Not Only Funded Wuhan Lab, but Overpaid It
(Ezekiel Loseke, Headline USA) An independent investigator discovered that the federal government may have made duplicate payments for grants it gave to the lab in Wuhan, China, through the National Institute of Health and the US Agency for International Development.
Diane Cutler is the independent investigator, according to CBS News....
Flynn Warns that Orchestrated Bank Run Is Part of Great Reset
(Ben Sellers, Headline USA) Two of the most censored and embattled conservatives in America teamed up over the weekend to blow the lid off a massive globalist conspiracy that ties together China, Ukraine and Silicon Valley---and may be coming soon for your most fundamental freedoms, including health and financial...
Biden’s Banking Bailout May Lead to Gov’t Takeover of Entire Sector
(Jacob Bruns, Headline USA) As the banking industry is buffeted by choppy waters, critics have suggested that President Joe Biden's proposed bank bailouts may eventually lead to a state-controlled banking industry, the Washington Times reported.
Despite the fact that millions of dollars held at the now-collapsed Silicon Valley Bank were not...
Doubts Raised by Biden’s Promise that Taxpayers Are Off the Hook for Bank Bailouts
(Casey Harper, The Center Square) President Joe Biden gave a speech Monday morning to address concerns about the banks, the economy and the federal government’s decision to take over and back up the bank, allowing depositors to retrieve their money, even if the bank doesn’t have it.
He stressed that taxpayers...
Government Considers Social Media Censorship amidst Banking Collapse
(Ken Silva, Headline USA) After censoring information about COVID-19, elections and a variety of other issues in recent years, government authorities are now reportedly looking to employ similar tactics to suppress financial news in the aftermath of multiple bank closures.
Rep. Thomas Massie, R-Ky, said Sunday that a Democrat senator suggested...
Musk Signals Interest in Buying Failed Bank, Turning it Digital
(Jacob Bruns, Headline USA) Tesla founder and Twitter CEO Elon Musk signaled over the weekend that he may be interested in bailing out and taking over the failed Silicon Valley Bank, the Daily Mail reported.
https://twitter.com/elonmusk/status/1634374859043270678
In what has been called an “an extinction-level event for startups,” Silicon Valley Bank, the nation’s...
Elon Building a Muskville in Texas
(Headline USA) Chief Twit Elon Musk is reportedly planning to build his own town in Texas.
Musk, who owns Tesla and Twitter, recently purchased thousands of acres near Austin, Texas, and has already hired architects to draw up plans to build a new community, according to the Wall Street Journal....
One of Silicon Valley’s Top Banks Fails; Assets Are Seized
(Headline USA) Regulators rushed Friday to seize the assets of one of Silicon Valley’s top banks, marking the largest failure of a U.S. financial institution since the height of the financial crisis almost 15 years ago.
Silicon Valley Bank, the nation’s 16th-largest bank, failed after depositors hurried to withdraw money this...
More Aggressive Interest Rate Hikes May Be on Horizon
(Casey Harper, The Center Square) Federal Reserve Chairman Jerome Powell warned Congress that more aggressive interest rate hikes may be on the horizon.
Powell testified before the Senate Banking Committee on Wednesday where he cited the stronger economy, saying bigger hikes could be necessary to address inflation. The Fed has been...
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